A board meeting can be an important time for a business, so it must be productive and efficient. A clear agenda and discussion that is relevant will maximize the value of every minute spent in the board meeting. Keeping the discussion focused can stop distractions like rambling or unnecessary side conversations.
The first step of a typical board meeting is to ensure that a quorum of board members are present at the meeting. The chairman or officer is the one who takes attendance and then checks the attendance list. This permits adjustments to the quorum and also an accurate record of those who attended the meeting.
Following that, a variety of reports are presented to the board of directors. These include reports from committees as well as executive reports and financial updates. In this phase the board reviews and discusses the reports to make informed decisions on what direction the company should take forward. It is a common practice that these reports are examined prior to the meeting and then approved by directors via email or by phone. This helps accelerate the meeting by ensuring everyone is familiar with the report’s contents.
After having reviewed all reports after reviewing all reports, it’s time for discussion of strategies which can help the organization grow and reach its goals. These strategies should have key performance indicators (KPIs) that will allow you to evaluate their success. These KPIs must be quantifiable and aligned to the organization’s goals. They should also be applicable and realistically achievable.